Shares of Globus Maritime Limited (NASDAQ:GLBS – Get Free Report) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $2.73 and traded as high as $3.69. Globus Maritime shares last traded at $3.33, with a volume of 215,746 shares changing hands.
Wall Street Analyst Weigh In
GLBS has been the topic of several research analyst reports. Weiss Ratings raised Globus Maritime from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded shares of Globus Maritime to a “strong-buy” rating in a research note on Saturday, July 18th. Finally, Maxim Group increased their target price on shares of Globus Maritime from $3.00 to $5.00 and gave the company a “buy” rating in a research report on Monday, June 15th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Globus Maritime has a consensus rating of “Moderate Buy” and an average price target of $5.00.
Check Out Our Latest Analysis on GLBS
Globus Maritime Price Performance
Globus Maritime (NASDAQ:GLBS – Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The shipping company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.09. The company had revenue of $14.61 million for the quarter, compared to analysts’ expectations of $13.90 million. Globus Maritime had a net margin of 12.72% and a return on equity of 3.80%.
Insider Activity
In related news, Director Georgios Feidakis purchased 114,766 shares of the business’s stock in a transaction dated Monday, July 13th. The stock was purchased at an average cost of $2.75 per share, with a total value of $315,606.50. Following the completion of the acquisition, the director directly owned 6,578,633 shares of the company’s stock, valued at approximately $18,091,240.75. The trade was a 1.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 59.20% of the stock is currently owned by corporate insiders.
Institutional Trading of Globus Maritime
A number of institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC increased its holdings in shares of Globus Maritime by 189.4% in the second quarter. NewEdge Advisors LLC now owns 46,939 shares of the shipping company’s stock worth $140,000 after purchasing an additional 30,717 shares during the period. AXQ Capital LP bought a new stake in Globus Maritime during the second quarter valued at $39,000. Finally, Renaissance Technologies LLC boosted its stake in Globus Maritime by 96.8% during the first quarter. Renaissance Technologies LLC now owns 143,100 shares of the shipping company’s stock valued at $331,000 after buying an additional 70,400 shares during the period. Hedge funds and other institutional investors own 31.60% of the company’s stock.
About Globus Maritime
Globus Maritime Limited (NASDAQ: GLBS) is a dry bulk shipping company that owns and operates oceangoing vessels. The company transports bulk commodities for industrial and agricultural customers, including iron ore, coal, grain, steel products and other raw materials.
Globus Maritime’s vessels serve international trade routes, connecting major ports and commodity-producing regions with markets around the world. The company generates revenue primarily through time-charter and voyage-charter arrangements, under which vessels are hired to transport cargo for specified periods or individual voyages.
The company is incorporated in the Marshall Islands and has historically operated from Athens, Greece, a major global shipping center.
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